MINNEAPOLIS – May 11, 2010 – Ameriprise Financial, Inc. (NYSE: AMP) today announced that its board of directors has authorized an expenditure of up to $1.5 billion for the repurchase of shares of its common stock through the date of the company’s 2012 annual shareholders meeting.

The company intends to fund share repurchases through existing working capital, future earnings and other customary financing methods. The share repurchase program does not require the purchase of any minimum number of shares, and depending on market conditions and other factors, these purchases may be commenced or suspended at any time without prior notice. Acquisitions under the share repurchase program may be made in the open market, through privately negotiated transactions or block trades or other means.

This news release contains certain forward-looking statements regarding the timing and manner of, and the sources of funding for, the company’s purchase of shares pursuant to the share repurchase program. Such statements reflect management’s plans, estimates and beliefs, and are subject to risks and uncertainties, which could cause actual results to differ materially from such statements. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this release, which speak only as of the date hereof. We undertake no obligation to update publicly or revise such forward-looking statements.

Ameriprise Financial, Inc. is a diversified financial services company serving the comprehensive financial planning needs of the mass affluent and affluent. For more information, visit ameriprise.com.

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